Employee ownership trust cements a bright future for Cheshire construction firm
Working collaboratively with local business advisors, Ellis & Co, leading audit, tax and consulting firm RSM UK has supported Cheshire-based construction firm, Precision Facades to transfer full ownership to an Employee Ownership Trust (EOT).
Founded nine years ago by MD Steve McGowan and Director James Lovell, Precision Facades has grown to become a leading national building contractor with a turnover of over £30m. The company’s success is rooted in its specialist expertise in facades, delivering end-to-end solutions from early design through to construction and maintenance across a diverse range of sectors.
The move to employee ownership reflects a growing trend in the construction industry. Recent figures show that construction is the fastest-growing sector for employee ownership, expanding by 6,580% between 2014 and 2025 and now representing 14% of all employee-owned businesses.
Martin Cooper, Simon Moulton and Emily Marland from RSM UK provided structuring and tax advice, to support the former shareholders in transferring 100% ownership of the business to Precision Facades’ 46 staff.
Martin Cooper, partner, RSM UK said: “From the outset, it was clear that Steve and James were committed to recognising the hard work of their team. The EOT structure offers a meaningful incentive for employees while ensuring continuity in the business. With an order book exceeding £60 million through to 2028 and a strong pipeline of future contracts, Precision Facades is well-positioned to continue its growth journey through trusted relationships and innovation.”
Steve McGowan, MD of Precision Facades said: “Transitioning to an EOT felt like a natural next step. We wanted a structure that rewards everyone who has contributed to our success and ensures they share in the future of the business. In the medium term, James and I will remain actively involved, supporting smooth operations while embracing fresh ideas from our employee-owners. We remain committed to serving our loyal customers, working collaboratively with our supply chain and continuing to embrace local community initiatives and sponsorships.
“Both Ellis & Co, and the RSM UK team have played a pivotal role in helping us to secure a bright future for Precision Facades, while preserving the strong foundations we’ve built as an ambitious and rewarding firm.”